The buyer won't be able to raise the rent on them more than the city dictates (which is historically around 2%/yr) and can't easily get rid of them.  

@James Williams @DeJaniera Little never let the seller to dictate that the buyer would be responsible for taxes, liens, or any other encumbrances.  

Take your time and analyze all the angles and what is most important to you and your family.Your goals, your current financial position and what you value most will help dictate what you should do.  

There is no one correct answer to your question as there are a lot of factors which will dictate what can be done (or should be done) with each specific site.

This concept dictates that receiving a dollar today is worth more than receiving a dollar in the future.

Your personal use and fair rental days will dictate the tax treatment (residence vs. vacation home vs. rental).

The difference is since you own the property you can try to dictate under what terms you would do a sale leaseback.

You can bid over what you are owed, but you’d have to pay the amount over your debt in cash of course...any surplus goes to the borrower though, assuming there are no add’l liens.Your servicer needs to be handling this, state/fed laws dictate when you can actually file foreclosure, your servicer will know this.

@Kevin ChhumIf you are projecting no cash flow, then reality dictates that you will have even larger negative cash flow.  

If we were to decide to rent it out, then we use the middle estimate to dictate our expenses.